Royal Bank Of Canada Reaffirms “Outperform” Rating for Jack Henry & Associates (NASDAQ:JKHY)

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank Of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $178.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 24.88% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Seaport Research Partners started coverage on Jack Henry & Associates in a report on Monday. They issued a “buy” rating and a $193.00 price target for the company. Morgan Stanley decreased their price target on Jack Henry & Associates from $170.00 to $158.00 and set an “equal weight” rating for the company in a research note on Wednesday. Stephens restated an “overweight” rating and issued a $200.00 price target on shares of Jack Henry & Associates in a research note on Tuesday, August 11th. Raymond James Financial raised their price target on Jack Henry & Associates from $192.00 to $199.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, Piper Sandler raised their price objective on Jack Henry & Associates from $171.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Jack Henry & Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.47.

Jack Henry & Associates Trading Down 0.9%

NASDAQ:JKHY traded down $1.30 during mid-day trading on Wednesday, hitting $142.54. The company had a trading volume of 690,170 shares, compared to its average volume of 1,164,289. Jack Henry & Associates has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The business’s fifty day moving average is $157.84 and its two-hundred day moving average is $149.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $9.99 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.63 and a beta of 0.56.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.13. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The firm had revenue of $633.10 million for the quarter, compared to analyst estimates of $631.60 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. As a group, research analysts expect that Jack Henry & Associates will post 7.34 earnings per share for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dai ichi Life Insurance Company Ltd lifted its holdings in Jack Henry & Associates by 231.1% during the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 21,102 shares of the technology company’s stock worth $3,335,000 after buying an additional 14,728 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Jack Henry & Associates during the 1st quarter worth approximately $3,569,000. Norges Bank acquired a new position in Jack Henry & Associates during the 4th quarter worth approximately $128,744,000. TD Asset Management Inc increased its holdings in Jack Henry & Associates by 9.8% during the 4th quarter. TD Asset Management Inc now owns 581,424 shares of the technology company’s stock worth $106,098,000 after purchasing an additional 51,699 shares in the last quarter. Finally, Dockside LLC bought a new stake in Jack Henry & Associates during the 4th quarter worth approximately $5,367,000. Institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software, payment processing and related services to banks, credit unions and other financial institutions. Founded in 1976 and headquartered in Monett, Missouri, the company serves primarily U.S.-based community and regional financial institutions.

The company offers core processing platforms for banks and credit unions, including Jack Henry Banking and Symitar solutions. Its products and services support account processing, lending, deposit operations, financial reporting, digital banking, mobile banking and customer relationship management.

Jack Henry also provides payment processing, card services, electronic funds transfer capabilities, online account opening, cybersecurity, document and information management, business intelligence and other technology services.